The Business Research Company’s Functional Food Ingredients Global Market Report 2021 – COVID-19 Growth And Change
LONDON, GREATER LONDON, UK, October 7, 2021 /EINPresswire.com/ — Collaborations and partnerships are are key trends gaining popularity in shaping the functional food ingredients market. Major companies operating in the functional food ingredients sector are focused on partnering or collaborating with other companies to develop innovative solutions for functional food ingredients. For instance, in December 2019, Cargill, a US-based food company, and Renmatix, a US-based plant ingredient innovations company, signed a joint development agreement (JDA) to explore a novel approach for making functional food ingredients from unutilized plant material. This agreement was to manufacture highly functional food ingredients. The companies will use Renmatix’s Plantrose Process, which is a proprietary water-based technology, and Cargill’s preferred feedstocks.
Major players covered in the global functional food ingredients industry are Cargill, BASF, Archer Daniels Midland, DuPont Nutrition & Biosciences, Arla Foods, Kerry Group, Ajinomoto, DSM, Ingredion Incorporated, Tate & Lyle, Roquette Frères, Nestle, Fuerst Day Lawson, Ashland, A&B Ingredients, and Royal Cosun.
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The global functional food ingredient market size is expected to grow from $84.74 billion in 2020 to $93.09 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%. The growth in the functional food ingredients market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The functional food ingredients market is expected to reach $125.65 billion in 2025 at a CAGR of 7.8%.
North America was the largest region in the functional food ingredients market in 2020. Europe was the second-largest market in the functional food ingredients market. The regions covered in the functional food ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
TBRC’s global functional food ingredients market report is segmented by type into probiotics and prebiotics, carotenoids, dietary fibers, fatty acids, vitamins, minerals, others, by source into natural, synthetic, by application into beverages, dairy products, infant food, bakery and confectionery, others.
Functional Food Ingredients Global Market Report 2021 – By Type (Probiotics And Prebiotics, Carotenoids, Dietary Fibers, Fatty Acids, Vitamins, Minerals), By Source (Natural Synthetic), By Application (Beverages, Dairy Products, Infant Food, Bakery And Confectionery), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides functional food ingredients market overview, forecast functional food ingredients market size and growth for the whole market, functional food ingredients market segments, and geographies, functional food ingredients market trends, functional food ingredients market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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